Elgethun Capital Management Has $2.47 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Elgethun Capital Management increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,995 shares of the company’s stock after buying an additional 12,972 shares during the period. Elgethun Capital Management’s holdings in Warner Bros. Discovery were worth $2,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. JPMorgan Chase & Co. increased its holdings in shares of Warner Bros. Discovery by 16.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,240,603 shares of the company’s stock worth $103,337,000 after purchasing an additional 1,170,924 shares during the period. Profund Advisors LLC increased its position in shares of Warner Bros. Discovery by 10.4% during the second quarter. Profund Advisors LLC now owns 145,245 shares of the company’s stock valued at $1,821,000 after purchasing an additional 13,651 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Warner Bros. Discovery by 12.7% in the second quarter. Gamco Investors INC. ET AL now owns 3,185,148 shares of the company’s stock valued at $39,942,000 after purchasing an additional 358,727 shares in the last quarter. Gabelli Funds LLC lifted its position in Warner Bros. Discovery by 27.7% in the second quarter. Gabelli Funds LLC now owns 2,250,947 shares of the company’s stock worth $28,227,000 after purchasing an additional 488,150 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Warner Bros. Discovery by 280.5% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 44,135 shares of the company’s stock valued at $553,000 after acquiring an additional 32,535 shares in the last quarter. 58.26% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 0.8 %

NASDAQ:WBD traded down $0.09 on Tuesday, hitting $10.65. 2,229,547 shares of the stock were exchanged, compared to its average volume of 20,631,883. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $16.34. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of -5.42 and a beta of 1.61. The company’s 50-day moving average price is $10.64 and its 200 day moving average price is $11.94.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Warner Bros. Discovery had a negative return on equity of 0.47% and a negative net margin of 11.48%. The business had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.97 billion. During the same period last year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $17.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, September 6th. Morgan Stanley lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 7th. Barclays cut their price objective on Warner Bros. Discovery from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Monday, October 9th. The Goldman Sachs Group lowered their target price on shares of Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, Wells Fargo & Company reduced their price target on shares of Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.73.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to third parties and networks and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.